Bitcoin24h $108,789.74+0.74%

Ethereum24h $2,607.25+2.98%

XRP24h $2.30+1.53%

BNB24h $658.64-0.13%

Solana24h $150.47+1.28%

TRON24h $0.2875+0.48%

Dogecoin24h $0.1704+2.10%

Cardano24h $0.5873+1.54%

Hyperliquid24h $38.76+0.29%

Sui24h $2.89+1.43%

The math behind MicroStrategy’s bitcoin bet

Bitcoin and MicroStrategy are both rallying with win-win math for bondholders and shareholders. Of course, the party can’t last forever.

Will MicroStrategy exceed bitcoin’s market cap in 2025?

MicroStrategy started 2023 with a market capitalization of just $1.8 billion. Today, this figure sits at $111 billion.

Michael Saylor’s Class B MicroStrategy stock outvoted Class A 10:1, but so much Class A now exists that he has lost voting control.

In 2023, MicroStrategy’s average bitcoin purchase price was near $30,000. Today, that average has jumped to near $50,000.

MicroStrategy executives boasted about the ability to yield higher bitcoin exposure per MSTR share over time. We read the fine print.